Marine Vessel Energy Efficiency Market Scope
Marine Vessel need to used high amount of fuel to complete their regular task and transportation but after consumption of fuel, emission of harmful gas takes place and they show adverse effect on environment and show contribution to climate changes. With the help of energy efficiency these effects get lowered and energy efficiency measure are cost effective. Marine vessel energy efficiency show different solutions to improve vessel performance with reduced fuel consumption, monitor and maintain different reasonable parameter. These services include software, hardware, and mechanical equipment’s, which uses different technologies. Owing to increase in Marine Vessel Energy Efficiency Due To Strong Regulation on CO2 Emission, marine vessel energy efficiency market is expected to grow at a significant rate during the forecast period.
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|Key Companies Profiled||Bureau Veritas (France), Siemens AG (Germany), Norsepower Oy Ltd. (Finland), PowerCell Sweden AB (Sweden), ABB Group (Switzerland), Becker Marine Systems (Germany), Haldor Topsoe (Denmark), Hyundai Heavy Industries Co. Ltd. (South Korea), Blended Fuel Solutions (New Zealand), Equinor ASA (Norway), Eniram (Finland), Marorka (Iceland), GreenSteam (Denmark), Schneider Electric SE (France) and Wartsila Corp (Finland)|
Marine Vessel Energy Efficiency market is a fragmented market due to the presence of various players. The players are focusing on increasing their manufacturing capacity and are offering competitive prices to gain high market share and establish their position in the market. Further, companies are focusing on developing innovative products and solutions to improve quality, enhances and promotes performance. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launch, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge
Bureau Veritas (France), Siemens AG (Germany), Norsepower Oy Ltd. (Finland), PowerCell Sweden AB (Sweden), ABB Group (Switzerland), Becker Marine Systems (Germany), Haldor Topsoe (Denmark), Hyundai Heavy Industries Co. Ltd. (South Korea), Blended Fuel Solutions (New Zealand), Equinor ASA (Norway), Eniram (Finland), Marorka (Iceland), GreenSteam (Denmark), Schneider Electric SE (France) and Wartsila Corp (Finland) are some of the key players that are part of study coverage.
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global Marine Vessel Energy Efficiency market by Type , by Application (Transportation Ships, Logistic Ships, Defence Vessels and Others) and Region with country level break-up.
On the basis of geography, the market of Marine Vessel Energy Efficiency has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2022.
Market Leaders and their expansionary development strategiesIn February 2021, GreenSteam acquired Enerforce solutions and consulting. Enerforce solutions and consulting was Greece-based maritime software specialist. Considering AI application and its importance for accurate data for performance monitoring and analysis. GreenSteam is using this for ship reporting and monitoring, which further helped to get accurate data for vessel performance and emissions monitoring which is crucial in carbon cutting regulation. This acquisition helped GreenSteam to expand its portfolio in marine vessel energy efficiency market.
In November 2022, wartsila started new project in repowering on an inland waterway vessel. herkules V owned by hidrovias do brasil. This project was focused on to increase efficiency, reduced emissions and lower operating costs. Additional fuel saving was done by installation of new, efficient, fixed pitch propellers. This project improved the position of wartsila in marine decarbonization and hence this leads to expansion in marine vessel energy efficiency market
Influencing Trend:Increasing Demand for Ships Bow for Fuel Efficiency of Vessel
Market Growth Drivers:Increasing Demand for Marine Vessel Energy Efficiency for Their Cost Efficiency, Growing Demand of Marine Vessel Energy Efficiency Due To Strong Regulation on CO2 Emission, Rise In Awareness for Environmental and High Demand for Shipping Services
Challenges:Increasing Influence of Shipping Industry Stakeholder on the Implementation of Fuel Saving Measurements
Restraints:Lack of Financial Incentive
Opportunities:Increasing Development of Advance Technology, Machinery and Equipment’s to Improve Marine Vessel Energy Efficiency
Key Target AudienceMedical Gas System Manufacturers, Raw Material Suppliers, Distributors, Government Bodies, Regulatory Bodies, Potential Investors, Research and Development Institutes, End Users and Others